Muscat: The National Industries Development Committee convened for its second meeting of 2025 in Muscat on Sunday. The agenda focused on strategic matters and the progress of recommendations established during the committee's initial meeting.
Chaired by Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, the meeting included representatives from both public and private sector organizations relevant to the discussions.
Participants examined strategies to boost the competitiveness of domestic products, updates on gas allocation for industrial initiatives, and a resolution to prohibit the export of certain raw materials and recyclable industrial waste. Additionally, the committee reviewed the mandatory list of local products and services and considered proposals from members aimed at promoting industrial projects within the Sultanate of Oman.
The committee assessed the findings of a comprehensive study on safeguarding national industries, drawing insights from the experiences of advanced industrial nations, and identifying challenges faced by Oman's industrial sector along with strategies for its development in line with global best practices.
Several recommendations were made, including the necessity of providing incentives for factories as part of a planned automation initiative, leveraging financing programs, and proposing quality industrial projects.
The committee underscored the significance of enhancing industrial investments, supporting local products in government procurement, offering incentives for new factories, and fostering collaboration among relevant departments to ensure the successful implementation of the Oman 2040 Industrial Strategy, thereby strengthening the industrial sector's contribution to the national economy.
